Advice needed Buying Property In Thredbo

Discussion in 'Thredbo' started by Harry James, May 21, 2018.

?

Have you purchased property in Thredbo

Poll closed Jun 4, 2018.
  1. Yes, it's worth it

    4 vote(s)
    57.1%
  2. Yes, don't do it.

    3 vote(s)
    42.9%
  1. sastrugi

    sastrugi Part of the Furniture
    Ski Pass: Gold

    Joined:
    Jul 5, 2001
    Messages:
    13,862
    Likes Received:
    4,994
    I have friends who live in arpartments and homes (not lodges or bedsits) that they own in Woodridge, Crackenback Ridge and the Village proper. Very few of them work for KT.

    KT have also done the wrong thing by getting most of the staff out of the village... sure there are more beds in the village but the atmosphere of the old days is gone because everyone has to deal with wildlife, cops and idiot drivers to get home now.
     
  2. gareth_oau

    gareth_oau Pool Room
    Ski Pass: Gold

    Joined:
    Dec 27, 2008
    Messages:
    44,709
    Likes Received:
    15,582
    I assume Richard of Richard's Reports was an owner/resident?
     
    sastrugi likes this.
  3. sastrugi

    sastrugi Part of the Furniture
    Ski Pass: Gold

    Joined:
    Jul 5, 2001
    Messages:
    13,862
    Likes Received:
    4,994
    Yup, he and all his crew are owner-residents.
     
    gareth_oau likes this.
  4. climberman

    climberman CloudRide1000 Legend
    Ski Pass: Gold

    Joined:
    Jul 24, 2000
    Messages:
    33,432
    Likes Received:
    16,527
    Not fkn easy buying in to bottom of the market at the moment!
     
    piolet likes this.
  5. Piste Again

    Piste Again Part of the Furniture
    Ski Pass: Gold

    Joined:
    Jul 27, 2000
    Messages:
    11,392
    Likes Received:
    2,043
    Here's a thought to put the cat amongst the pigeons.

    A few years ago we bought an apartment in the French Alps, in a small town between 4-15 minutes drive from the different base stations for the Portes Du Soleil. It's like 10 or 15 Perishers joined together with a few smaller fields scattered about. Property prices are massively less than in Australia and the purchase process is pretty straightforward, if different. Since the agent and the vendors were English, it was easy. All tax is paid in Australia but we do have to pay the equivalent of land tax and council rates in France.

    We rent it out on AirBnB and the (English) next door neighbours manage it, do the cleaning and handle most of the guest interactions for a fee. We don't make lots of money but oiver the year we do make enough of a profit that our living expenses are covered when we visit - gear hire, car rental, food, lifts etc. Food, booze and lift tickets are all cheap and you can survive pretty well with a bare minimum of French and Google Translate on a phone.

    We use it for January most years as that fits in with work and the kids' school and uni holidays, and sometimes in July. It costs to get there, but then we have a free holiday in the snow for a month, picking and choosing the ski days, maintenance days and rest days to coincide with conditions.

    This year for various reasons we're not going, and the rent we're getting from the saisonnaires pays for the next 2 trips.

    And the purchase price is probably half what you'd pay in Thredbo.
     
    Zeroz, cin, sastrugi and 5 others like this.
  6. climberman

    climberman CloudRide1000 Legend
    Ski Pass: Gold

    Joined:
    Jul 24, 2000
    Messages:
    33,432
    Likes Received:
    16,527
    It does sound good!
    Thredbo's appeal for me is that it's year-round and 4.5 to 5 hrs away from home :)

    I missed a place this week that was email announced on Wednesday. I saw it Thursday but by Monday arvo it had had four bidders, three formal offers, one of which was unconditional and above asking price; SOLD!. FFS!
     
    zac150 likes this.
  7. skinavy

    skinavy One of Us

    Joined:
    Feb 7, 2001
    Messages:
    1,851
    Likes Received:
    1,100
    Of course the other thing is that the price of almost any property in an Australian ski resort will buy you an awful lot of overseas holidays without the being tied to one resort.
     
  8. Untele-whippet

    Untele-whippet beard stroker
    Ski Pass: Gold

    Joined:
    Jul 13, 2006
    Messages:
    13,977
    Likes Received:
    19,641
    Patience grasshopper.
    All good things come to those who wait.
     
    zac150 likes this.
  9. skull

    skull One of Us

    Joined:
    Jun 4, 2017
    Messages:
    865
    Likes Received:
    1,184
    was that the 1 bedder?
     
  10. climberman

    climberman CloudRide1000 Legend
    Ski Pass: Gold

    Joined:
    Jul 24, 2000
    Messages:
    33,432
    Likes Received:
    16,527
    bedsit, no balcony.
     
    skull likes this.
  11. piolet

    piolet Found anything yet?
    Ski Pass: Gold

    Joined:
    May 27, 2004
    Messages:
    25,683
    Likes Received:
    19,957
    Which one and how much?
     
  12. telecrag

    telecrag Old n' Crusty
    Ski Pass: Gold

    Joined:
    Oct 12, 2007
    Messages:
    23,543
    Likes Received:
    24,109
    Dude, I can introduce you to someone, who can probably help. You need inside information IMO. A lot of stuff won't even make it to market (not a lot, but as a percentage, its a small market). It will certainly take time.

    Couch surfer telecrag!
     
  13. sastrugi

    sastrugi Part of the Furniture
    Ski Pass: Gold

    Joined:
    Jul 5, 2001
    Messages:
    13,862
    Likes Received:
    4,994
    That does sound fabulous indeed. I would love to ski overseas each year. But for me and so many of my friends, Thredbo is as much about the social aspect as anything. Every year we book the same week/s as friends and have a true holiday, not only skiing but being with people we love. Unfortunately we can't afford both lifestyles!
     
    zac150 likes this.
  14. gareth_oau

    gareth_oau Pool Room
    Ski Pass: Gold

    Joined:
    Dec 27, 2008
    Messages:
    44,709
    Likes Received:
    15,582
    But you arent tied to one resort. You just generate extra rental income when you dont want to use it
     
  15. skinavy

    skinavy One of Us

    Joined:
    Feb 7, 2001
    Messages:
    1,851
    Likes Received:
    1,100
    Except the best time to use it is also the time it generates the best income. So either not use it to get the income or use it and be tied to the resort.
     
  16. piolet

    piolet Found anything yet?
    Ski Pass: Gold

    Joined:
    May 27, 2004
    Messages:
    25,683
    Likes Received:
    19,957
    Well for PA, he uses it in Jan which is super quiet in Europe
    Good setup
     
  17. snowgum

    snowgum One of Us

    Joined:
    May 4, 1999
    Messages:
    2,723
    Likes Received:
    609
    Just saw this thread. At the risk of being labelled 'Dr No' here. Would it be worth seeing if the ski market falls as per Melbourne & Sydney?

    Or is it so tight this deemed impossible?
     
  18. Billy_Buttons

    Billy_Buttons obderhtiks
    Ski Pass: Gold

    Joined:
    Mar 25, 2011
    Messages:
    5,210
    Likes Received:
    3,326
    The listing are increasing as I suspected they would. That Sydney money is now starting to slowy run. By next year, there will be so much choice, but I would still hold out, because this is going to be another long slow bleed. The early 2000's boom did not pick up again and get rediculous again until 2015-2017.
     
  19. Snow Blowey

    Snow Blowey Part of the Furniture
    Ski Pass: Gold

    Joined:
    Jan 7, 2004
    Messages:
    19,978
    Likes Received:
    11,115
    Seems to be lots of new land coming online close to jindabyne.
     
    crackson likes this.
  20. climberman

    climberman CloudRide1000 Legend
    Ski Pass: Gold

    Joined:
    Jul 24, 2000
    Messages:
    33,432
    Likes Received:
    16,527
    Really? Listings increasing in Thredbo? I haven’t been actually counting but I think there’s less on the market now than There has been for years. 9 or 10 places on market (eg Real estate.com, etc) now, with one under offer. And I’m not sure the Belvedere one is finished yet.
     
    zac150 likes this.
  21. dawooduck

    dawooduck relaxed and comfortable
    Ski Pass: Gold

    Joined:
    Oct 26, 2002
    Messages:
    55,140
    Likes Received:
    21,706
    Lots of lots
     
  22. sastrugi

    sastrugi Part of the Furniture
    Ski Pass: Gold

    Joined:
    Jul 5, 2001
    Messages:
    13,862
    Likes Received:
    4,994
    Bellevarde.

    Pindari and the Geebung carpark and have never looked so soft and romantic :confused:LOL

    $1.325M for a one bedroom, one car park? Nah....

    [​IMG]
     
  23. Piste Again

    Piste Again Part of the Furniture
    Ski Pass: Gold

    Joined:
    Jul 27, 2000
    Messages:
    11,392
    Likes Received:
    2,043
    It's not for everyone. The airfares are a bit of a killer but a lot less than renting a self-contained apartment in Thredbo for a month during winter. It only works if you can get a nice big block of time off every year. I'm a one man business and can take time off as I like and my kids are at school and uni, so January works for us. +1 often has to leave early due to lack of annual leave (tough luck her!).

    I do the occasional weekends at Thredbo myself but the idea of racing down on friday night after work, battling traffic at this end and wildlife at the other, skiing 2 days and then joining the interminable line of taillights and idiots driving back on a sunday night takes a lot of the gloss off it. We end up spending as much time driving as we do skiing and get home exhausted (and with a pile of wet ski gear that takes 3 days to wash and dry). But with kids in high school there's not much option outside school hols, so that's what we're stuck with other than July school hols.

    Getting to a place you call home, settling in and living there for a month at a time is brilliant. While I love Thredbo, its not huge and I reckon I'd be getting a little bored after skiing it for a month.
     
    Zeroz, dawooduck, sastrugi and 2 others like this.
  24. Piste Again

    Piste Again Part of the Furniture
    Ski Pass: Gold

    Joined:
    Jul 27, 2000
    Messages:
    11,392
    Likes Received:
    2,043
    You could buy similar in the middle of Morzine and save $A500,000. Pays for an awful lot of flights!
     
    piolet likes this.
  25. piolet

    piolet Found anything yet?
    Ski Pass: Gold

    Joined:
    May 27, 2004
    Messages:
    25,683
    Likes Received:
    19,957
    Yeah
    What size are they going to end up?
     
  26. piolet

    piolet Found anything yet?
    Ski Pass: Gold

    Joined:
    May 27, 2004
    Messages:
    25,683
    Likes Received:
    19,957
    Whynotboth.taco LOL
     
  27. dawooduck

    dawooduck relaxed and comfortable
    Ski Pass: Gold

    Joined:
    Oct 26, 2002
    Messages:
    55,140
    Likes Received:
    21,706
    Generally 600m2 upwards
     
    piolet likes this.
  28. telecrag

    telecrag Old n' Crusty
    Ski Pass: Gold

    Joined:
    Oct 12, 2007
    Messages:
    23,543
    Likes Received:
    24,109
    By my calculations, you could afford to rent that apartment for one month a year, for 33 years, for the same money. So, if you are going to live longer than 30 years, and use it more than a month a year, its a bargain!
     
  29. Adricat

    Adricat Hard Yards

    Joined:
    Aug 10, 2011
    Messages:
    812
    Likes Received:
    91
    He he, I can leave work at 3pm Friday arvo, be there by 5:30. Leave Sunday evening, maybe 6:30, and be home before 9. Ar, the joys of living in our country's nerve centre.
     
    zac150 likes this.
  30. sastrugi

    sastrugi Part of the Furniture
    Ski Pass: Gold

    Joined:
    Jul 5, 2001
    Messages:
    13,862
    Likes Received:
    4,994
    I've been skiing Thredbo upwards of 40 years now, including 14 full seasons and I'm not bored with it yet :)
     
    Townsend likes this.
  31. Piste Again

    Piste Again Part of the Furniture
    Ski Pass: Gold

    Joined:
    Jul 27, 2000
    Messages:
    11,392
    Likes Received:
    2,043
    The sums for travel time add up quite differently from Canberra - there has to be some consolation I guess. From the middle of Sydney it's 5 1/4 hours, plus a fuel stop or two, plus traffic. Generally about 6 hours but if we leave between 3pm and 7pm on a Friday we'd often add an extra hour for traffic. It really takes away from the enjoyment of a weekend at the snow!

    For solo trips I used to get the overnight bus on Friday and the 4.30 return bus on Sunday afternoon but they don't run the friday night one any more. The bus fare wasn't much more than the fuel cost + park entry and someone else got to watch out for wildlife and idiots.
     
    piolet likes this.
  32. sastrugi

    sastrugi Part of the Furniture
    Ski Pass: Gold

    Joined:
    Jul 5, 2001
    Messages:
    13,862
    Likes Received:
    4,994
    I can say the same about Buller, and I can pop into our veggie garden and see it and Timbertop on a clear day too... and I don't need to live in Canberra ;)
    Good distance for a day trip too, we made first chair on a knee deep powder day last year and we only left at 6am (including a stop for chain fittings - first time ever).
     
  33. Adricat

    Adricat Hard Yards

    Joined:
    Aug 10, 2011
    Messages:
    812
    Likes Received:
    91
    Agreed, from Canberra, last minute day trips are a piece of cake.
     
    sastrugi likes this.
  34. Piste Again

    Piste Again Part of the Furniture
    Ski Pass: Gold

    Joined:
    Jul 27, 2000
    Messages:
    11,392
    Likes Received:
    2,043
    I only said "a little bored" :). And it sounds like your interaction with friends is a sufficiently big part of it that boredom wouldn't get a look in.

    We usually have a few hangers-on who travel to France for at least part of our trips. Makes a big difference.
     
    sastrugi likes this.
  35. sastrugi

    sastrugi Part of the Furniture
    Ski Pass: Gold

    Joined:
    Jul 5, 2001
    Messages:
    13,862
    Likes Received:
    4,994
    It sounds wonderful :) :)

    It's always a big dilemma with knowing a mountain intimately and wanting to ski it endlessly in all conditions and also exploring new mountains and terrain. I would dearly love to know Jackson Hole as well as I know Thredbo and surrounds so I could hit it hard on the pow days but I'd have to move there for the next 20 years and sadly that ain't gonna happen!
     
  36. gareth_oau

    gareth_oau Pool Room
    Ski Pass: Gold

    Joined:
    Dec 27, 2008
    Messages:
    44,709
    Likes Received:
    15,582
    You arent looking at it objectively though

    If you own a ski property, the bragging rights at dinner parties are HUUUGE
     
    zac150 and Piste Again like this.
  37. telecrag

    telecrag Old n' Crusty
    Ski Pass: Gold

    Joined:
    Oct 12, 2007
    Messages:
    23,543
    Likes Received:
    24,109
    I have had a few dinners at friends places, and they never brag. They could if they wanted to though!

    I know people who live and work there (owners) people who just live there, and either dont work, or work remotely, and people who have a place there, but dont rent it out, and people who do rent out, and use for certain weekends, and a couple of weeks. They all seem pretty bloody happy to me!
     
    zac150, sastrugi and climberman like this.
  38. Townsend

    Townsend One of Us

    Joined:
    Mar 28, 2014
    Messages:
    313
    Likes Received:
    620
    I am one of these ‘pretty bloody happy’ people! It is stunning here today.

    1. There is virtually nothing still on the market at a reasonable price and what comes on the market is being inundated with offers (I think the Sacha’s apartment had seven offers in a week).

    2. There are many reasons to buy. We bought a tiny apartment because we became very sick of staying in a lodge. We spent about 20 weekends a year here and things like packing and unpacking each week, sharing kitchens and bathrooms became depressing. We also met someone who told us that buying a place was the best thing he ever did. We agree.

    3. Once you own a place the three non-winter seasons become great. Friends come out of the woodwork, summer people arrive and the tempo changes. Most people here came for the skiing but now love the other seasons even more.

    4. We had to make compromises and reduce our standard of living in other areas to be able to afford it. But not having to drive to the mountain, and becoming part of a terrific community, was worth every sacrifice we made
     
    zac150, easty, Jacko4650 and 8 others like this.
  39. climberman

    climberman CloudRide1000 Legend
    Ski Pass: Gold

    Joined:
    Jul 24, 2000
    Messages:
    33,432
    Likes Received:
    16,527
    Pretty much the thinking with us.
    Just need to get a place LOL
     
    Townsend and piolet like this.
  40. Bloke

    Bloke One of Us

    Joined:
    Oct 21, 2011
    Messages:
    810
    Likes Received:
    1,161
    Im intrigued by these properties that are getting snapped up without a public marketing campaign. If they are in such demand why aren’t vendors looking to sell for us much as possible? Sounds like a natural setting for an auction (rather than off market private treaty). Anyone got any insights?
     
  41. climberman

    climberman CloudRide1000 Legend
    Ski Pass: Gold

    Joined:
    Jul 24, 2000
    Messages:
    33,432
    Likes Received:
    16,527
    The start price is low - and the cost for an auction of a cheap property is the same as for an expensive property, as far as the agent goes. And why have it on the market for a six week pre-auction period when it sells in three days?
    These places are generally under $350K,so how much extra effort do you want to make for a few extra thousand?
     
    zac150 and Bloke like this.
  42. piolet

    piolet Found anything yet?
    Ski Pass: Gold

    Joined:
    May 27, 2004
    Messages:
    25,683
    Likes Received:
    19,957
    More likely the agent assures the vendor it's as good as it'll get and go for a quick sale, lock it in mate
     
    Bloke and climberman like this.
  43. climberman

    climberman CloudRide1000 Legend
    Ski Pass: Gold

    Joined:
    Jul 24, 2000
    Messages:
    33,432
    Likes Received:
    16,527
    A quick game's a good game!
     
    piolet likes this.
  44. piolet

    piolet Found anything yet?
    Ski Pass: Gold

    Joined:
    May 27, 2004
    Messages:
    25,683
    Likes Received:
    19,957
    Auctions can be stressful particularly if you've a good offer on paper it is tempting...
     
  45. Jacko4650

    Jacko4650 One of Us
    Ski Pass: Silver

    Joined:
    May 15, 2014
    Messages:
    1,098
    Likes Received:
    1,352
    I refuse to even look at properties for auction as you need to have too many moons aligned; IMO. I have been trying to purchase in or around Jindy for a while now and the market was getting so crazy I consciously took a step back. However, in the past few weeks I reckon there are signs of people proactively "moving" properties that might have over-exceeded their ability to fund repayments should factors in their life change (eg: a partner no longer working). Hence, I have seen a couple of properties with large acreage and nice homes being listed at prices that might have only lasted a few days just a few months ago. Perhaps they are the smart ones??? I'm OK with an area with rising property prices, but the problem with big spikes and falls is that there are winners and losers, sometimes for the wrong reason.
     
  46. gareth_oau

    gareth_oau Pool Room
    Ski Pass: Gold

    Joined:
    Dec 27, 2008
    Messages:
    44,709
    Likes Received:
    15,582
    We recently purchased a prperty via an online auction which all went very well.

    I wonder if that vehicle will make its way to Thredbo
     
  47. Bloke

    Bloke One of Us

    Joined:
    Oct 21, 2011
    Messages:
    810
    Likes Received:
    1,161
    That’s very cool. Did you inspect? Personally as i buyer i don’t mind auctions. At least they are transparent
     
  48. Legs Akimbo

    Legs Akimbo Grumblebum
    Ski Pass: Gold

    Joined:
    Jan 17, 2014
    Messages:
    25,777
    Likes Received:
    18,608
    When I have bought at auction I have always paid less than I was prepared to pay. I'm not convinced that they are the best way to get the best price.
     
  49. gareth_oau

    gareth_oau Pool Room
    Ski Pass: Gold

    Joined:
    Dec 27, 2008
    Messages:
    44,709
    Likes Received:
    15,582
    Yep the place was only 400m from my house. In orinciple auctions are fine but only in a seller’s market. This was a buyer’s market so we won it very nicely
     
  50. zac150

    zac150 One of Us
    Ski Pass: Gold

    Joined:
    Mar 19, 2010
    Messages:
    2,550
    Likes Received:
    3,064
    ^^^^ this, Ive not seen any increase in listings, and most things have been snapped up pretty quick. There was a nice 2 beddy in woodridge that went fast as well.

    As for Jindy land, I’ve seen a lot of this “planed” land over the years and have assessed some loan applications for the development funding of the land. But if you think dropping 500 blocks of land in Jindabyne is going to make a difference think again. You could drop 1000 blocks on the market and it won’t make a difference because right now people have to build on them and builders aren’t there and the costs are high.

    The market won’t change until interest rates go up and people can’t afford (or justify) their second home; as lots here indicate they have done the sums and it works but it won’t always work for everyone.

    Yes finance is a little harder to get which has effected the Sydney and Melbourne markets but this hasn’t yet seemed to effect Canberra (as much) or Thredbo.
    Lots of these situations end in an auction anyway, I have lots of clients who put their offers in and are then called for second and third offers. Their is an agreed process as the offers are placed (top three get to re bid and the highest first round offer gets the final bid), and everything is in writing so you can see the offers. Often the agent will also ask for auction conditions I.e exchange contract straight away.
     
    Bloke and piolet like this.